United Kingdom TV giant ITV, the British home ofDownton Abbey and The X Factor, on Tuesday reported third-quarter advertising revenue growth of 8 percent amid the Rugby World Cup, leaving ad revenue up 6 percent for the first nine months of the year, broadly in line with analysts’ expectations.
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ITV Studios revenues up 28%, driven by acquisitions and 9% organic growth while non-NAR revenues were up 22% to £1,085m.
“We’re on track for another year of double digit profit growth as we continue to strengthen ITV in the United Kingdom and internationally”, he said.
Advertising revenues rose 13pc to just over £2bn in the nine months to September 30, as ITV claimed “all parts” of the business were performing well.
Likely driven by the arrival of the Rugby World Cup, chief executive Adam Crozier said the commercial broadcaster was on track for another year of double digit profit growth, with share of viewing also improving in the second half.
As a result, ITV embarked on an acquisition trail, scooping up independent producers such as Graham Norton’s So TV, The Garden, 12 Yard, Big Talk, Two Four and most recently The Voice producer Talpa.
The company said that full-year revenue growth is now expected to be up by at least 5% – ahead of the growth recorded by the market as a whole.
ITV hopes to add to its broadcast interests through the acquisition of UTV Media outlets – including the Dublin-based UTV Ireland.
The U.K.’s largest over-the-air broadcaster by revenue said that the broadcast business again delivered good growth with advertising revenue up 8% on the year.
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Crozier also pointed to a “strong pipeline of new drama”, including the likes of Beowulf, Jericho and Victoria, which are all set in the North.
